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Garland Law Offices, P.A.
Recent Activity
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“Understanding the order of debts to be paid from an estate that's running out of money.” A spouse recently died, and while the couple had separate bank and credit card accounts, they filed joint tax returns. When the husband passed away, his outstanding bills were more than his assets. While... Continue reading
Posted 10 hours ago at Garland Law Offices, P.A.
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“Ten years later, Britney Spears is still under conservatorship of her father Jamie—and her protective dad wants to keep fans out of her personal business!” On January 24, attorneys met in Los Angeles Superior Court for a hearing to ask a county court judge to seal a portion of an... Continue reading
Posted yesterday at Garland Law Offices, P.A.
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“Among the risks that married couples face in retirement, this one is unavoidable. It’s the risk of becoming a widow or widower.” According to USA Today’s recent article, “How to prepare financially for being a widow/widower,” the death of a spouse frequently results in a decline in economic status. For... Continue reading
Posted 2 days ago at Garland Law Offices, P.A.
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“Estate planning can feel overwhelming for individuals without an ‘heir apparent.’” For those without children or close family, it can be difficult to choose who will handle your affairs, let alone who will inherit your estate when you die. The most common concern for many, is who should be trusted... Continue reading
Posted 3 days ago at Garland Law Offices, P.A.
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“The plan that was best for you over the past year, may not be the best one next year.” Most people fill Medicare’s coverage gaps by buying a Medicare supplement (Medigap) plan and a Part D prescription-drug plan, or they get both medical and drug coverage from a private insurer... Continue reading
Posted 4 days ago at Garland Law Offices, P.A.
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“If you can swing it financially, it makes sense to front-load your 529 plan, also known as a “qualified tuition plan” or QTP.” A 529 plan is designed to pay for future education costs, usually for a child or grandchild. With the new tax law, 529s can now be used... Continue reading
Posted 7 days ago at Garland Law Offices, P.A.
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“Make it easy on your family, put your affairs in order.” Part of estate planning is making the situation after your death as palatable as possible for those dealing with your estate. You should consult with an experienced estate planning attorney today: you don’t know what lies ahead. A recent... Continue reading
Posted Feb 15, 2018 at Garland Law Offices, P.A.
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“Expanded estate tax exemption leaves many reasons to engage in estate planning…” With the new Tax Cuts and Jobs Act, most of us won’t have to pay a federal estate tax. However, with the expanded exemption, there are still several reasons to engage in estate planning, according to an article... Continue reading
Posted Feb 14, 2018 at Garland Law Offices, P.A.
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“It is the nature of humans to form habits and then keep those habits up as we get older.” Most of the time, routines are a good thing. They help simplify our days by eliminating decisions on little things. That saves the creative parts of our brains for the more... Continue reading
Posted Feb 13, 2018 at Garland Law Offices, P.A.
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“An estate plan is like a car or a house: It needs regular maintenance to function as intended. Yet unlike your car or home, external events can create the need for adjustments.” Forbes’ recent article, “5 Questions To Ask Your Estate Planner After The New Tax Law,” gives you some... Continue reading
Posted Feb 12, 2018 at Garland Law Offices, P.A.
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“Whitney Houston’s estate has reached a $2 million settlement with the Internal Revenue Service (IRS).” The estate for the late musical icon Whitney Houston, who passed away in 2012 after drowning in her bathtub at a Beverly Hills hotel, was initially ordered to pay $11 million to the IRS after... Continue reading
Posted Feb 9, 2018 at Garland Law Offices, P.A.
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“Art is left to loved ones or other individuals, donated to charity directly, or in trust at the death of the collector. Proper planning means that the artwork is transferred to others very tax efficiently.” Affluent art collectors hope that their acquisitions will appreciate in value, but they will also... Continue reading
Posted Feb 8, 2018 at Garland Law Offices, P.A.
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“Estate planning is done for a number of purposes. One is to transfer assets to your heirs, according to your wishes once you pass on. Unfortunately, just having the documents in place may not be enough, as mistakes can be made.” WMUR provides some of the most common things to... Continue reading
Posted Feb 7, 2018 at Garland Law Offices, P.A.
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“The Trump administration said Thursday it will encourage states to place work requirements on Medicaid recipients, a first step toward a longstanding GOP goal of overhauling the program serving low-income Americans.” The head of the Centers for Medicare and Medicaid Services, Seema Verma, recently issued new guidance that’s designed to... Continue reading
Posted Feb 6, 2018 at Garland Law Offices, P.A.
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“While planning their estates, many physicians engage an attorney or estate planner to deliver a neatly bundled package of documents that usually includes a will, attendant trusts and various powers of attorney (POA).” A financial power of attorney document allows you to state how your financial affairs should be handled,... Continue reading
Posted Feb 5, 2018 at Garland Law Offices, P.A.
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“A tactic to prevent unexpected nursing home care from evaporating the family nest egg.” Consider a scenario when your spouse has made a permanent move to a nursing home, you don’t have long-term-care insurance, Medicare won’t cover the cost and you have too much money to qualify for Medicaid. However,... Continue reading
Posted Feb 2, 2018 at Garland Law Offices, P.A.
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“Friends and family members who care for elders are on their own, for the most part, dependent on whatever aid organizations they can connect with that might provide respite or assistance of one kind or another.” Hawaii Governor David Ige signed the Kupuna Caregivers Assistance Act, which provides those who... Continue reading
Posted Feb 1, 2018 at Garland Law Offices, P.A.
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“Thanks to the federal tax bill on President Donald Trump’s desk, the amount you can leave tax free to heirs will be a whopping $11.2 million in Hawaii, Maine and Washington, D.C. in 2018—and in Maryland in 2019, and in Connecticut in 2020.” The big numbers are because many states... Continue reading
Posted Jan 31, 2018 at Garland Law Offices, P.A.
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“Nothing like getting served, pestered by sheriffs and taken to court over a Will that myself and my sisters are not only 100% excluded from, but do not even have any interest in contesting in the first place. Thanks Dad.” Craig Sager II recently tweeted about the fact that he... Continue reading
Posted Jan 30, 2018 at Garland Law Offices, P.A.
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“As the 2018 new year quickly approaches, many are considering a resolution that will have an immediate impact on their lives.” Many of us will set resolutions of general wellness, such as eating more healthily, exercising more or getting out of debt. However, the most impactful resolution you can make—and... Continue reading
Posted Jan 29, 2018 at Garland Law Offices, P.A.
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“IRS claims estate underestimated value of Jackson’s image.” The estate of Michael Jackson may have just escaped a major penalty for allegedly undervaluing the late pop singer’s assets. Bloomberg reports in its article, “Michael Jackson Estate May Avoid Penalties in IRS Dispute,” that a federal tax court judge denied the... Continue reading
Posted Jan 26, 2018 at Garland Law Offices, P.A.
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“Are cats the deadliest household pets? WealthAdvisors published the story last fall of a Bronx widow who left $300,000 to her two cats in her will, along with instructions that the funds be used to make sure the felines, Troy and Tiger, would “never be caged” and always be lovingly... Continue reading
Posted Jan 25, 2018 at Garland Law Offices, P.A.
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“The phrase ‘death cleaning’ may sound jarring to unaccustomed ears, but the concept makes sense. It’s about getting rid of excess, rather than leaving a mess for your heirs to sort out.” “Death cleaning” is the literal translation of the Swedish word dostadning, which means an uncluttering process that begins... Continue reading
Posted Jan 24, 2018 at Garland Law Offices, P.A.
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“Kids outgrow toys and clothes, but when you contribute to their college savings, you’re giving them a gift that grows with them.” For a truly meaningful gift, the Oregon College Savings Plan is encouraging families and friends to contribute to a child’s 529 college savings account. A College Savings Plan... Continue reading
Posted Jan 23, 2018 at Garland Law Offices, P.A.
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“Do you want to feel as if you've lost 10 pounds? Get your financial life in order.” nj.com’s recent article, “5 resolutions for managing money,” gives five easy-to-make and easy-to-keep New Year's resolutions for protecting your money. Create Goal-Specific Plans. Think about what you want to achieve in 2018 and... Continue reading
Posted Jan 22, 2018 at Garland Law Offices, P.A.